ABSTRACT
In times of turbulence, is the wisest course of action to boldly step out, introduce large-scale change and risk everything or is it to do nothing or, at least, very little and safeguard those recently hard-won gains? If there is much to lose and if the welfare of many others is at stake, might not the wiser option be to remain conservative, just do a modest bit of innovation and to let others take the first big step? On the other hand, being conservative might also have unintended negative consequences. In basing their estimations of future levels of economic growth on criteria that emphasize stability, regularity and predictability, organizations might be locking themselves and their stakeholders into calamitous and widespread failure. Organizations, managers and leaders today face the paradox of needing to respond to the imperative for radical transformation while also safeguarding the current welfare and the financial, psychological and professional investments of their members and key stakeholders. When do we make the call to accept the challenge of transformation and risk much and when do we decide to withdraw into our shells, reflect on what we have and conserve what we can?
